Beijing Shiji Information Technology has signed a share transfer and share purchase agreement to acquire the majority stake of Baoku Online, a leading business travel and expense management company in China. The two parties will work closely on a number of business topics through integration of products and resources.

According to Global Business Travel Association’s report, the market size of business travel in China is close to RMB2 trillion and China has overtaken US as world’s largest business travel market. However, domestic enterprises have been facing different problems with travel management as over-complicated and decentralized workflow, low efficiency and low transparency of the business travel fee.

Baoku Online, a cloud-based travel management platform, has 2 major business lines: 1) the development and supporting services of the ticket direct sales system for enterprise clients -- for major airlines in China including Air China, Shenzhen Airlines, Hainan Airlines, Shandong Airlines, and Sichuan Airlines, etc.; 2) the all-in-one SaaS intelligent travel management platform providing technical platform services for the upstream and downstream of the travel industry.